The USD has generally firmed a touch overnight in Asia, but not by too much with activity rather subdued with the Japanese holiday taking its toll. We seem to have entered a period of consolidation after the sharp losses suffered by the greenback earlier in the week. That said, sentiment remains pretty strongly negative toward the U.S. currency, evidence all the talk of it losing its reserve currency status (yer right, how many times have i heard that over the years.)
Not alot on the European economic data front to whet the appetite today:
07:00 GMT: German PPI (Feb) expected -0.2% m/m. +1.3% y/y
07:45 GMT: French wages Q/Q Q-4 expected +0.3%
10:00 GMT: Italian unemployment rate Q-4 (s.a) expected 7% from 6.7%
10:00 GMT: Euro-zone industrial production (Jan) (s.a) expected -4.0% m/m, -15.5% y/y.
